The New York office of Avison Young, in partnership with the firm’s Long Island office, has arranged the sale of 424 Rockaway Turnpike, a 4,523-square-foot retail property located in Cedarhurst, New York. The property sold for $866,000.
An Avison Young team led by Principal Todd Korren in New York and Senior Associate Amanda Gorozdi in Long Island represented the seller, Lighting Your Way LLC, in the transaction. The buyer was an end user who plans to open a retail store in the building.
“The seller was interested in diversifying its assets and engaged Avison Young to explore the possibility of selling the 424 Rockaway Turnpike property within a set time-period,” Korren said. “We secured multiple bids from investors in seven different countries and successfully closed on the sale during the COVID-19 pandemic shutdown.”
The 424 Rockaway Turnpike building is located across from Bay Harbour Mall on one of Nassau County’s most active thoroughfares, which serves as the primary roadway leading into the luxurious Five Towns community.